Company shareholders challenging the transaction to sell Emmis Communications Corp. still could be awarded damages despite
the board’s decision to OK the deal, lawyer says.
Emmis Communications Corp. agreed to be acquired for about $90 million by closely held JS Acquisition LLC, a company formed
by Emmis CEO Jeff Smulyan.
JMV’s new show, “The Ride,” will run weekdays from 3 p.m. to 7 p.m starting Monday.
The lawsuits, filed in Marion Superior Court, say board members have breached fiduciary duties by making no recommendation
on deal that, they say, will enrich Chairman Jeff Smulyan at the expense of minority shareholders.
State law normally requires board approval for buyouts. But the language cited in the letter of intent provides an exception
for conflicts of interest or special circumstances.
A big Emmis Communications Corp. shareholder believes the $90 million deal CEO Jeff Smulyan unveiled Monday morning to
take the company private is unlikely to get derailed—even though it’s worth far less than a takeover offer Smulyan
failed to get through his board four years ago.
JS Acquisition Inc., the company Emmis CEO Jeff Smulyan has established to complete the acquisition, would purchase all shares
of publicly traded Emmis for about $90 million, according to Monday morning’s announcement.
Marion County prosecutor Carl Brizzi has not hosted “Crime Watch” on WIBC in three weeks, due to a scheduled break. But station
officials want him
to address accusations on air if he is to continue the show.
Preferred stockholders, owed about $14 million after six consecutive quarters of missed dividends, will elect two new members
to media firm’s board at its July 14th annual meeting.
Sports columnist Bob Kravitz made his final appearance on The Fan’s afternoon radio show on Monday. Emmis Communications Corp.
executives said the decision was based, in part, on the show’s “financial performance.”
Emmis Communications Corp. is shuffling several prominent on-air personalities at its Indianapolis radio stations' beginning
Monday.The moves involve Big Joe Staysniak and Steve Simpson of WIBC, Ed Wenck of WLHK and
Dan Dakich of WFNI.
Emmis’ Jeff Smulyan paid off a loan collateralized by nearly all his Emmis stock. Retired Duke Realty Chairman John Wynne is facing new fallout from his margin loan, with the lender on his Williams Creek home pursuing foreclosure.
The court on Tuesday ruled in favor of Emmis in its bid to get a popular radio station it operates in Hungary back on the air.
Indianapolis-based Emmis Communications Corp. reported lower revenue during its fiscal third quarter, but still managed a
small profit.
Indianapolis-based Emmis Communications Corp.’s revenue dropped, but the radio and publishing company still posted a profit
during its third fiscal quarter.
A Hungary radio station operated by Emmis until late last year might broadcast again following a court decision.
Jeff Smulyan agrees to terms on a new three-year contract to lead Emmis. Signing and performance bonuses could lead to big
pay raise.
Las Vegas-based Citadel Broadcasting, which owns three radio stations in Indiana, filed for Chapter 11 bankruptcy protection
on Sunday in an effort to restructure its hefty debt load.
Hungarian officials took off the air Wednesday a national radio station operated by Emmis Communications Inc. and awarded
the license to one of the country’s political parties.
Q95’s Tom Griswold and Bob Kevoian have maintained their lofty ratings, keeping the Clear Channel Radio station near the top
of the Indianapolis radio market.
